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Today’s market themes: Iran talks: Shifting expectations for US-Iran negotiations drives swings in oil and risk sentiment. Dollar weakness: Broad USD selling pressure continues, impacting FX crosses and commodity prices. Tech rebound: Nasdaq leading equities higher, fueled by a rotation back into growth and mega-cap stocks. The setup: Equities are bid…
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Where we are: The DXY is currently trading at 98.36, down 0.31% on the session and near the low end of its intraday range of 98.32-98.75. This represents a notable shift from the previous New York close, and the dollar index has given up a good portion of its weekly gains.…
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Where we are: S&P 500 futures are trading at 7194.75, up 0.72% and challenging the 7200.50 overnight high. The cash index closed Friday at 7165.10 and is trading slightly below that, suggesting futures are leading the charge. The overnight range has been fairly contained, but this latest leg higher suggests a…
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Where we are: Gold (COMEX) currently trades at 4740.9, up 0.54% and near the high of the day’s range (4672.2-4757.1). Bullion is catching a bid in early trading after finding support late in the EU session. Gold is building on gains from Friday after bouncing near 4650. The move is supported…
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Where we are: EUR/USD is currently trading at 1.1719, up 0.28% on the session after a low of 1.1673. Overnight momentum pushed Fiber higher on a weaker dollar, testing intraday highs of 1.1721. The Euro is attempting to reclaim lost ground after trading at two-week lows earlier in the week, still…
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Where we are: Nasdaq futures are trading at 27435.00, up 1.64% on the day, printing a high of 27462.50. The cash Nasdaq 100 closed yesterday at 24836.60. This rally puts us well above yesterday’s cash close, suggesting a strong open for the New York session. Intraday, futures have held a relatively…
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Where we are: GBP/USD is currently trading at 1.3533, up 0.49% on the session and testing the upper end of its daily range (1.3454-1.3534). Cable has shrugged off earlier weakness and is now above yesterday’s approximate NY close, driven by a weaker dollar and shifting rate expectations. The pair is bumping…
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Where we are: USD/JPY is currently trading at 159.42, down 0.24, but still within the day’s range of 159.31-159.84. The pair continues to show resilience against downside pressure, having breached the 159.00 level convincingly in Asia, despite renewed verbal intervention warnings from Japanese officials. Compared to the prior NY close, this…
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Where we are: Dow futures are currently trading at 49392, down 31 points (-0.06%) and within the day’s range of 49243-49598. The Dow Jones cash index closed yesterday at 49231, and futures are trading only slightly above that level. The S&P 500 and Nasdaq futures are showing considerable strength, diverging from…
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Where we are: USD/CAD currently trades at 1.3666, down 0.21% on the day, having ranged between 1.3663 and 1.3714. The pair is testing the lower end of its recent range after trading above 1.37 yesterday in New York. This move lower is a continuation of the trend seen over the past…
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Where we are: Bitcoin is currently trading at $77,596, down $337 (-0.43%) on the day, within a daily range of $77,397-$78,572. This is slightly below yesterday’s NY close, with early dip-buyers so far appearing to have little conviction. The dip comes despite strength in S&P 500 futures, suggesting Bitcoin is decoupling…
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Where we are: The FTSE 100 is currently trading at 22583, down 183 points or -0.81% on the day. The index has been trending lower since the European open, trading within a range of 22499-22766. This sell-off extends the losses from yesterday, marking a fifth consecutive day of declines, and puts…
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Snapshot: AUD/USD trades at 0.7152, up 0.28% as risk appetite returns ahead of the New York open. The move higher is primarily driven by broad USD weakness, with the DXY down 0.31% to 98.36 and US yields backing up, while Trump speaks at 17:00 London. Aussie has broken above prior intraday…
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Snapshot: WTI Crude is trading at $94.40, down 2.30% on the day, driven by renewed hopes of US-Iran talks potentially easing supply constraints. The DXY is slightly weaker at 98.36, but that’s not enough to offset the geopolitical premium unwind. Watch $92.68, the daily low; breach opens a retest of $90.…
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Snapshot: The Nikkei 225 is trading at 59716, up 0.52%, driven by a surge in tech stocks and a weaker dollar. The DXY is currently at 98.36, down 0.31%, providing a tailwind for Japanese equities. No major US data releases are scheduled before the NY session open. Watch for resistance at…
